1. On game days, homeowners near Middletown Universitys stadium used to rent parking spaces in their driveways...
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1. On game days, homeowners near Middletown University’s stadium used to rent parking spaces in their driveways to fans at a going rate of $11. A new town ordinance now sets a maximum parking fee of $7. Use the accompanying supply and demand diagram to explain how each of the following can result from the price ceiling.
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